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Dec 26, 2012
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cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get their act together and we'll get something to go forward. we think the markets will respond positively. >> you do admit that things could get a whole lot worse from a market standpoint before they get better, right? >> if nothing is done, and we just do not feel at this point that knock will be done. we think that investors who are concerned that nothing will be done and the washingtonians will stick to that through the first quarter flat second quarter should be buying puts at this point. from the perspective that we see now, from the words that came out of both the president as well as the speaker of
cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get...
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Dec 26, 2012
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economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exch
economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide...
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Dec 31, 2012
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could mean for the economy and washington. >>> if lawmakers force the economy off the fiscal cliff, over 2 million jobs will be at risk, including over 956,000 small business jobs from supplier companies and mom and pop stores. er ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> while europe has been trading in large part around what we're going to do or won't to in this country, that's driven trading overnight in asia. >> but you tonight have pan i go. you have an absence of panic on both sides. many european markets today didn't open at all. half days in the like of london, for example. similarly over in spain and in amsterdam, they also had a half day today. and it was a negative bi
could mean for the economy and washington. >>> if lawmakers force the economy off the fiscal cliff, over 2 million jobs will be at risk, including over 956,000 small business jobs from supplier companies and mom and pop stores. er ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger...
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Dec 28, 2012
12/12
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make your case. >> i think the fiscal cliff is damaging to the economy and american prestige, it is merely a side issue to the entitlement cliff that was engineered and constructed by the career politicians from both parties and the only way to stop it and fiscal cliff is bad enough, imagined getting rid of the entitlement cliff. it would take years and years of problems and the only way to surmount that in my view is to have strict single term limits for all politicians because the moment the politicians place their reelection and their career ahead of their party in the country, we want to reverse, we want the country to come first and that is the only way they can do it. the tea party has been very effective in targeting tax you see being argued now in congress and the house. with the republican party, the wrong target. the tea party in my view should be targeting single term limits for all politicians. dennis: even if selfless members of congress voted for a single term limits don't you worry that they wouud be a bunch of amateurs and only basically getting their ea legs by the end of
make your case. >> i think the fiscal cliff is damaging to the economy and american prestige, it is merely a side issue to the entitlement cliff that was engineered and constructed by the career politicians from both parties and the only way to stop it and fiscal cliff is bad enough, imagined getting rid of the entitlement cliff. it would take years and years of problems and the only way to surmount that in my view is to have strict single term limits for all politicians because the...
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Dec 28, 2012
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that is the bulk of the fiscal cliff anyway and it is also the bulk of the impediment to the economy. so if you were thinking where is this going to lead us, what happens if we go off the cliff, i would estimate that in the short run it would probably cost us up to about a point of gdp which is about a half million jobs. in the long run it could cost about a half percentage point of growth every year. so, you know, this is the kind of thing that is really quite serious in terms of its impact on standard of living over the long haul. and we really need to get this right. it is not the kind of thing we can do in the next couple days i'm afraid. >> half a million jobs, whether half or a whole million jobs, that is a significant number. a big hit to the labor market. are you saying recession or not? >> well, you know, again, it depends on what the baseline is. i'm not sure we'd actually call it a recession, but just losing a percentage point of growth is significant whether it puts us in through recession or not. if we go -- remember our growth rate has only been about 2%. if we cut our g
that is the bulk of the fiscal cliff anyway and it is also the bulk of the impediment to the economy. so if you were thinking where is this going to lead us, what happens if we go off the cliff, i would estimate that in the short run it would probably cost us up to about a point of gdp which is about a half million jobs. in the long run it could cost about a half percentage point of growth every year. so, you know, this is the kind of thing that is really quite serious in terms of its impact on...
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Dec 28, 2012
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but if talks fail, would the fiscal cliff and a port strike be a one-two punch to the economy? "if its a couple of days, i think ultimately it would be a blip on the radar, but if it goes two weeks, it becomes a much greater problem." a key sticking point involves a fee longshoremen receive for each container that arrives in port. the container royalty fee was invented to help offset the need for fewer workers during the transition from bulk cargo to containers in the 1950s and 60s. shippers want the fee limited. longshoremen disagree. "it can be $15,000 per person. $200 million a year added to the cost of goods. that's a very significant number." if there's no compromise, a strike could leave goods headed for ports from boston to houston at sea and retailers with a headache. "if you have a container ship delayed two weeks, do you divert it to the west coast? that's an expensive option." and presidential intervention - unlikely. "i don't think president obama will get involved. it would be 'a betrayal' of organized labor." speaking of large travelers across oceans, ship traffic
but if talks fail, would the fiscal cliff and a port strike be a one-two punch to the economy? "if its a couple of days, i think ultimately it would be a blip on the radar, but if it goes two weeks, it becomes a much greater problem." a key sticking point involves a fee longshoremen receive for each container that arrives in port. the container royalty fee was invented to help offset the need for fewer workers during the transition from bulk cargo to containers in the 1950s and 60s....
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Dec 24, 2012
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>> well, it's funny how we talk about the fiscal cliff and we ignore the fact that our economy is no better off than we really were say even two years ago. for the fed to come in with 6 1/2% unemployment rate in their last meeting. it would take four to five years of 200,000 jobs per month. we are going to be nowhere near that. these politicians are using that at some sort of leverage to get what they want. we can't afford to have any trip-ups. david: i agree with you, we should be growing at 3, 4 percent not this anemic rate we're growing at, we won't be able to regain what we have lost for a long time. if we go off with the fiscal cliff, will we immediately go into a recession? >> i will go one step further, yes. i think we absolutely go into recession. that would knock between 2 and 4 percent off our gdp right away. this is the doomsday scenario, but that ten year rate now is 1.75ish. a lot of folks are calling it to 2, 2 1/2, maybe evenn3 because they are looking through rose colored lenses that i don't have. i think we could see that rate under 1% before it gets up to 2 1/2%. 2
>> well, it's funny how we talk about the fiscal cliff and we ignore the fact that our economy is no better off than we really were say even two years ago. for the fed to come in with 6 1/2% unemployment rate in their last meeting. it would take four to five years of 200,000 jobs per month. we are going to be nowhere near that. these politicians are using that at some sort of leverage to get what they want. we can't afford to have any trip-ups. david: i agree with you, we should be...
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Dec 29, 2012
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stock market, despite all of those worries about the fiscal cliff and maybe slower growth in trust economy, the stock market has had a great year. too bad you missed out. the smart money has been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users, pummeled the stock, which is on its way back to the ipo price. >>> number seven, mother myer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave. >> number six, mother nature, an intense drought in the midwest that scorched the corn and soy crop sending prices sky high. >> the ocean is just beyond. >> and who can forget superstorm sandy? millions of neighbors, their houses swept away without power, damages, and raising questions about infrastructure and whether we should be spending some money to fix it. >>> number five, china, is china slowing or le
stock market, despite all of those worries about the fiscal cliff and maybe slower growth in trust economy, the stock market has had a great year. too bad you missed out. the smart money has been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money...
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Dec 25, 2012
12/12
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the rest of us worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like the ipo but investors did not. trading glitches and questions about the company's ability to make money on mobile users pummelled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was going to take a two-week maternity leave. looks like the mother's touch is exactly what yahoo! needed. >> number six, mother nature. a drought sending prices sky high. >> who can forget superstorm sandy? millions without power and damages as high as fifty billion dolla dollars. >> number five, is china leading the world. we do know that china will be the biggest leading. >> china. china. >> it's clear that china is a competitor and a partier. >> number four, europe. the european union was fractured by too much debt approximate the austerity plans to fix it. that saga is far from other. >> number three, the housing market finally bottomed out. low home prices and record low mortgage ra
the rest of us worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like the ipo but investors did not. trading glitches and questions about the company's ability to make money on mobile users pummelled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was going to take a two-week maternity leave. looks like the mother's touch is exactly what yahoo!...
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Dec 24, 2012
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of the fiscal cliff in th and the , check stock prices were based on earnings outlooks in the economy. lori: everybody is ignoring the fundamentals right now. when we can we get back to the fundamentals and ignore politics, if ever a time in the picture? >> maybe the super bowl ads versus the fiscal cliff read lori: you make a great point, carry on. >> some point we will solve the fiscal cliff, kick the can down the road, have a grand bargain, no bargain, but it will be old news, not the current news. david: will be talking with the retail sector coming up, but we are getting a lot of mixed signals of what is happening this holiday season. what are you sensing? speak of the retail sector will perform well, just don't think it will exceed analyst or wall street expectations. i think everything that needed to be done in terms of consumer investment purchasing in the aftermath of sandy took place. on the other hand if you noticed that has not been a lot of promotions from the major retailers past the holiday weekend that kicked off. i believe retail will do reasonably well, the question
of the fiscal cliff in th and the , check stock prices were based on earnings outlooks in the economy. lori: everybody is ignoring the fundamentals right now. when we can we get back to the fundamentals and ignore politics, if ever a time in the picture? >> maybe the super bowl ads versus the fiscal cliff read lori: you make a great point, carry on. >> some point we will solve the fiscal cliff, kick the can down the road, have a grand bargain, no bargain, but it will be old news,...
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Dec 29, 2012
12/12
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economy is on the verge of taking off but this fiscal cliff mess could get in the way. how much? what can we expect in 2013 with or without a deal? aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away.
economy is on the verge of taking off but this fiscal cliff mess could get in the way. how much? what can we expect in 2013 with or without a deal? aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing...
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Dec 27, 2012
12/12
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>> doing this all year long, news about the economy or settlement of the fiscal cliff issue, the bond market sells off a little bit and the market rallies. here we are again. hope springs eternal. >> let's say we get a deal in the near term, some sort of a framework deal. does that mean we'll see rates on the treasury yield curve rise appreciably, in other words, we'll sell off on the bond market. >> the initial reaction will be relief and risk assets, selloff in treasuries, and keep in mind any deal that we get is probably going to mean more austerity, not less, higher taxes and less spending in 2013 and 2014, and ultimately that's good for the bond market. it's not a bad thing for the bond market. >> do you agree, jeff cox? >> i agree with the notion that, of course, we're at mercy of the fiscal cliff talks, and i do think that the near term picture for equities is not looking very good because anybody who has any faith that these guys are going to get a deal done within the next couple of days i think is kidding themselves, as we've been kidding ourselves for the past couple of mon
>> doing this all year long, news about the economy or settlement of the fiscal cliff issue, the bond market sells off a little bit and the market rallies. here we are again. hope springs eternal. >> let's say we get a deal in the near term, some sort of a framework deal. does that mean we'll see rates on the treasury yield curve rise appreciably, in other words, we'll sell off on the bond market. >> the initial reaction will be relief and risk assets, selloff in treasuries,...
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Dec 27, 2012
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. >> four days left to avoid the fiscal cliff. who will compromise and will a deal get done to rescue the american economy? stay with cnbc for full-time reports to see who will rise above. who will compromise and will a ♪ >> all night i've been talking to you about the new diversification, a way to diversify by strategy, not just sectors so you can thrive in any market. look, we still believe in the old kind of diversification by group, but we've also got a new prism going here. remember, you need a high-yieldner your portfolio, a big dividend-paying stock for downside protection and the massive multi-year gains that come from reinvesting the dividends, and you must reinvest. second, you need a way to profit a whole lot when the market is in good shape. sometimes it is, and still potentially keep delivering gains if things get worse which is why you must have exposure to growth, preferably a high quality secular growth stock where the earnings estimate is a powerful momentum and then a speculative stock, something that trades fo
. >> four days left to avoid the fiscal cliff. who will compromise and will a deal get done to rescue the american economy? stay with cnbc for full-time reports to see who will rise above. who will compromise and will a ♪ >> all night i've been talking to you about the new diversification, a way to diversify by strategy, not just sectors so you can thrive in any market. look, we still believe in the old kind of diversification by group, but we've also got a new prism going here....
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Dec 26, 2012
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they had a grim outlook for a fiscal cliff deal and the impact of the tragedy in newtown. on the radar this morning, chilling details in the christmas eve firefighter ambush. we could find out soon who will be saying aloha to the senate and a broken record in the house of representatives. new details out of webster, new york. william spangler set a car and house on fire and ambushed firefighters, opening fire on them as they arrive on the scene. police found a note he left behind saying he wanted to burn down the neighborhood and do what i like doing best, killing people. a convicted felon who spent 17 years in prison for killing his grandmother with a hammer was armed with three firearms including a bushmaster, the same gun used in the school massacre. he may have killed his sister and the home had human remains believed to be hers. >> police say spangler took his own life. governor neal abercrombie, democrats are urging a swift deployment so the replacement can on a deficit deal. of abercrombie's options, congresswoman colleen anabusha and senator inouye's dying wish is
they had a grim outlook for a fiscal cliff deal and the impact of the tragedy in newtown. on the radar this morning, chilling details in the christmas eve firefighter ambush. we could find out soon who will be saying aloha to the senate and a broken record in the house of representatives. new details out of webster, new york. william spangler set a car and house on fire and ambushed firefighters, opening fire on them as they arrive on the scene. police found a note he left behind saying he...
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Dec 27, 2012
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only four days before the fiscal cliff. who will compromise and will a deal get done to save the u.s.'s economy? stay tuned to see who will rise above? >>> the dow is currently down 75 although we know president is going to land in an hour or so. who knows what the situation will look like by the time "fast money" comes around. >> we do know we will have the chairman of lion's gate. up 88% and give us a preview of the pipeline for 2013 and see if the stock can keep going. with the markets closed we will have a technical analyst on the market. looks like he is seeing a worse year for 2013. >> and then talk to italian conference members. >> absolutely. >> see you tonight. meantime, if you're just joining us, here's what you missed earlier on. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> we're going to raise taxes and we're going to cut spending. both of those things will have something of a debilitating effect of the growth of gdp this coming year. >> we hear a lot of press release po
only four days before the fiscal cliff. who will compromise and will a deal get done to save the u.s.'s economy? stay tuned to see who will rise above? >>> the dow is currently down 75 although we know president is going to land in an hour or so. who knows what the situation will look like by the time "fast money" comes around. >> we do know we will have the chairman of lion's gate. up 88% and give us a preview of the pipeline for 2013 and see if the stock can keep...
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Dec 27, 2012
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the fiscal cliff is scary. another recision, higher unemployment, economic slowdown. tax money taken out of the economy. those are major concerns. we're going to have to react as a business and it could result in cut backs. the fiscal cliff was meant to be something that nobody wanted to go anywhere near and here we are about to go off it. we really need our elected officials to figure this out, keep our economy growing and gives us some certainty about the future so we can make our plans as business leaders. we're all having such a great year in the gulf, we've decided to put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. so come to the gulf, you'll have a great time. especially in alabama. you mean mississippi. that's florida. say louisiana or there's no dessert. brought to you by bp and all of us who call the gulf home. >>> welcome back. the dow jones
the fiscal cliff is scary. another recision, higher unemployment, economic slowdown. tax money taken out of the economy. those are major concerns. we're going to have to react as a business and it could result in cut backs. the fiscal cliff was meant to be something that nobody wanted to go anywhere near and here we are about to go off it. we really need our elected officials to figure this out, keep our economy growing and gives us some certainty about the future so we can make our plans as...
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Dec 29, 2012
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, it is a cliff. >> most americans have not benefitted from this economy at all. people are struggling and most people i know are kind of, can i make the mortgage? can i keep my job? this is real for people, and the problem is that one of the things that i have discovered talking to conservative e k economists or progressive left wing economists or whoever i'm talking to say that we are all not asking the right questions and not having an honest debate. the honest debate is that conservative people on the right want less government and destroy government to take what people get out of it. a way to end it. so we are not, and the left is not talking anymore about what the real issues are are, and we talked about in the break about social security, and they are going to gut social skuecurity. i'm okay. i'm old [ laughter ] but y'all are going to be in trouble when it comes to social security and your generations will be in trouble when it comes to social security, because they are going to take it back and gut it so people won't get their do. and we talked about, mel
, it is a cliff. >> most americans have not benefitted from this economy at all. people are struggling and most people i know are kind of, can i make the mortgage? can i keep my job? this is real for people, and the problem is that one of the things that i have discovered talking to conservative e k economists or progressive left wing economists or whoever i'm talking to say that we are all not asking the right questions and not having an honest debate. the honest debate is that...
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Dec 26, 2012
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if the fiscal cliff doesn't get resolved no question the u.s. economy will go into recession. we closed down our manufacturing in china and relocated it in the usa. for other companies to follow our lead, they need to trust our leaders in washington will actually lead. think outside the box, great incentive for businesses to invest in the u.s. economy. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> financials have been on fire for most of 2012. but interest rates and regulation are still putting some profit margins under pressu pr
if the fiscal cliff doesn't get resolved no question the u.s. economy will go into recession. we closed down our manufacturing in china and relocated it in the usa. for other companies to follow our lead, they need to trust our leaders in washington will actually lead. think outside the box, great incentive for businesses to invest in the u.s. economy. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500...
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Dec 30, 2012
12/12
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. >>> it is the one issue that affects just before he single one of us you can the fiscal cliff. think of it as, well this way, our economy is in a car headed toward that cliff and there's a lot of stake, including massive spending cuts and social programs and defense, expiration you the bush era tax cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the loss of unemployment benefits. we have asked experts to join us for a fiscal cliff roundtable discussion, if you will. ron brownstein is a senior -- cnn senior political analyst and editorial director of the national journal and stephen moore, senior economics writer at the "wall street journal" and is in washington, d.c. first up, ron, will, do you think, these politicians reach a deal or not and why or why not? >> the fiscal cliff was yeelted as a doomsday machine to try to give them more will power to do what they can't do on their own, to reach a deal. the reason all of this was here, incentive to
. >>> it is the one issue that affects just before he single one of us you can the fiscal cliff. think of it as, well this way, our economy is in a car headed toward that cliff and there's a lot of stake, including massive spending cuts and social programs and defense, expiration you the bush era tax cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the...
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Dec 31, 2012
12/12
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people have said that economists said concern about the fiscal cliff has already done damage. the economy, according to the cob is certain to fall back into recession and negative growth in the new year. is that higher taxes in a way a death knell for the economy or whole picture, of increased taxes and increased spending and no meaningful deficit reduction? >> we're seeing some effect already. you're seeing that in numbers on consumer confidence, on christmas season spending and business investment in hiring. the higher tacks is not the end of the republic. it is bad for growth. but we can still have a strong economy. but i do think we need to deal with uncertainty of what are taxes going forward. this cliff deal is short-term deal. we need leadership congressman was talking about. i wish it was there i agree with him what we really need going forward. lori: congressman rigell, one last comment from you with regards to confidence in washington of the americans are fed up with the wheeling and dealing in washington and no compromise. is there anything you can say to reinforce
people have said that economists said concern about the fiscal cliff has already done damage. the economy, according to the cob is certain to fall back into recession and negative growth in the new year. is that higher taxes in a way a death knell for the economy or whole picture, of increased taxes and increased spending and no meaningful deficit reduction? >> we're seeing some effect already. you're seeing that in numbers on consumer confidence, on christmas season spending and business...
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Dec 28, 2012
12/12
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stocks hanging on every word regarding the fiscal cliff. what is the safest way to plan the market right now? prudential strategist quincy crosby shares her dos and don'ts. we want to check 10 and 30 year treasuries to see how the yields are doing. adam: i am adam shapiro, crisis averted, union representing dockworkers and shippers resell labor agreement averting a strike that could have crippled the economy. the international longshoremen's association and the u.s. maritime alliance have agreed to exteed the current contract 30 days to finalize details of the agreement. peers and is acquiring a 5% stake in barnes and noble's no canadian unit worth $8 million. shares of the bookstore chain out today as much as 9% on that news. the media unit consists of the digital business and 674 college bookstores throughout the united states. sources tell reuters blackstone group will keep its money despite a federal insider-trading probe into that hedge fund. the asset management arm of blackstone has $550 million in debt. that is the latest from the f
stocks hanging on every word regarding the fiscal cliff. what is the safest way to plan the market right now? prudential strategist quincy crosby shares her dos and don'ts. we want to check 10 and 30 year treasuries to see how the yields are doing. adam: i am adam shapiro, crisis averted, union representing dockworkers and shippers resell labor agreement averting a strike that could have crippled the economy. the international longshoremen's association and the u.s. maritime alliance have...
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Dec 31, 2012
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china is the second-largest economy in the world. and definitely not a fiscal cliff there. but today's activity i thought was amazing when you consider there's still so much left undone and as john just said, everything he said was tax, tax, tax. >> amazing like a head scratcher? >> yeah. i get the fact we had five straight down days and we were oversold. i don't think you get a solution that rallies this market 2% tomorrow, even if it's everything everybody wanted to hear. >> right, the fact of the matter is, they may agree on taxes but taxes across the board pretty much are going higher and there's still the debt limit issue and then the spending cuts issue. >> that's the thing. you nailed it. the debt ceiling conversation is going to be a weapon of force and it's something that's going to be hanging over this market. i heard nothing about entitlements. a house that wasn't even going to vote for boehner's plan b, which was $1 million in terms of the tax increases. i'm a little skeptical and i'm more worried about what happens from here. >> i think tim hit it right on the
china is the second-largest economy in the world. and definitely not a fiscal cliff there. but today's activity i thought was amazing when you consider there's still so much left undone and as john just said, everything he said was tax, tax, tax. >> amazing like a head scratcher? >> yeah. i get the fact we had five straight down days and we were oversold. i don't think you get a solution that rallies this market 2% tomorrow, even if it's everything everybody wanted to hear. >>...
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Dec 26, 2012
12/12
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stock market, despite all the worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. our money has been in the market, the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not in its first day as a trading company. questions about nasdaq and the company's ability to make money on mobile users pummeled the stock which has yet to climb back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo, who announced she was just going to take a two-week maternity leave as she tried to turn the company around. looks like a mother's touch is just what yahoo needed. >> number six, mother nature. a drought in the midwest that scorched the corn and bean crops. who can forget superstorm sandy? neighborhoods along the northeast swept away. millions without power, and damages as high as $50 billion, raising lots of questions about u.s. infrastructure and whether we should be spending money to fix it.
stock market, despite all the worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. our money has been in the market, the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not in its first day as a trading company. questions about nasdaq and the company's ability to make money on mobile users pummeled the...
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Dec 24, 2012
12/12
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here we are on the doorstep after new year and the economy falling off the fiscal cliff. as a result businesses and individuals are facing some of the biggest uncertainties and questions in decades. regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
here we are on the doorstep after new year and the economy falling off the fiscal cliff. as a result businesses and individuals are facing some of the biggest uncertainties and questions in decades. regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
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Jan 1, 2013
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meant to be a temporary boost to the economy. and in the fiscal cliff, it is really temporary. they're not going to extend it. >> how important it is, the markets are not open today but they're going to be open tomorrow, that there is some real deal in hand from the senate side and the house side to indicate there is stability here? >> so look, you had a good year for stocks, s&p 500 up 13%. you had stocks up very strongly on the last trading day that they could trade, right? they are anticipating a deal. if you don't get a deal, markets are closed today if you don't get a deal it would be tough for tocks. if you do get a deal -- >> i want to interrupt you for a moment. i want viewers to know what we're watching here. this is live at the white house. the vice president getting into the motorcade there. you can see the secret service outside. the vehicle. and of course the motorcade traveling to the hill where he'll be meeting with the house democrats to talk about pushing forward on the house side. i think we're turning some tape here. you can actually see the vice president, h
meant to be a temporary boost to the economy. and in the fiscal cliff, it is really temporary. they're not going to extend it. >> how important it is, the markets are not open today but they're going to be open tomorrow, that there is some real deal in hand from the senate side and the house side to indicate there is stability here? >> so look, you had a good year for stocks, s&p 500 up 13%. you had stocks up very strongly on the last trading day that they could trade, right?...
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Dec 24, 2012
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bank rate says one in three consumers tell it the fiscal cliff is making them hold back on spending and budgets are on everyone's mind. >> definitely shopping on a budget because i just wrote a book and i had to spend a lot of money to get the book printed so i have to be very careful. >> we're always on a budget but we always exceed it. >> my budget this year is lower than last year but it's going okay. i am still able to get people little gifts here and there. >> we're spending a lot of money this year. we're buying everybody gifts this year. just because, i guess, it's almost the end of the world. >> well, it's not the end of the world. she still has to pay her credit card bills. costco and nordstrom, he said this weekend it looks like it was a little tepid and it is very tough to gauge how online sales have been. >> everybody is up extremely strongly online but at the same time i think a lot of the retailers gave such good discounts and for so long so early that i think they pulled some selling out of the back end of the season. nounchts, yesterday was the last day for thousands of
bank rate says one in three consumers tell it the fiscal cliff is making them hold back on spending and budgets are on everyone's mind. >> definitely shopping on a budget because i just wrote a book and i had to spend a lot of money to get the book printed so i have to be very careful. >> we're always on a budget but we always exceed it. >> my budget this year is lower than last year but it's going okay. i am still able to get people little gifts here and there. >> we're...
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Dec 28, 2012
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. >>> going over the fiscal cliff could have a huge impact on the local economy. thousands of people could lose their jobs, especially federal employees and government contractors. the defense industry could face billions of dollars in cuts. >> i represent the third largest number of federal employees and probably the largest single number of federal contractors. so that federal nexus is really important to our economy. we immediate to end the uncertainty. >> economists say it is possible, though, this new terminology to step over if you will the cliff. that means lawmakers will reach some kind of a deal a few weeks after the new year begins. >>> retailers are bracing for more bad news as thousands of workers at u.s. ports are preparing to strike. jackie deangelis live with that story and more. jackie? >> good morning, aaron. time is running short to avoid a possible strike this weekend at more than a dozen east and gulf coast ports stretching from maine to texas. more than 14,000 long shore men could walk off the job when their contract expires tomorrow in a long
. >>> going over the fiscal cliff could have a huge impact on the local economy. thousands of people could lose their jobs, especially federal employees and government contractors. the defense industry could face billions of dollars in cuts. >> i represent the third largest number of federal employees and probably the largest single number of federal contractors. so that federal nexus is really important to our economy. we immediate to end the uncertainty. >> economists say...
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Dec 24, 2012
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the looming fiscal cliff means uncertainty for the economy in the new year. here is steve liesman with a preview of what he expects in 2013. >> trying to figure out what's going to happen in 2013 depends on one very important development. whether the u.s. goes over the fiscal cliff in a few days' time. and, for how long. if it's avoided, there's considerable upside for the economy. we could see at least one, and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment under the uncertainty, unleashing business spending would add to the growth from the rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, and people come into the workforce will be discouraged but then it could start to fall. as for the fed i think the market may be overstating its expectation for asset purchases from the central bank in 2013. at the current pace t
the looming fiscal cliff means uncertainty for the economy in the new year. here is steve liesman with a preview of what he expects in 2013. >> trying to figure out what's going to happen in 2013 depends on one very important development. whether the u.s. goes over the fiscal cliff in a few days' time. and, for how long. if it's avoided, there's considerable upside for the economy. we could see at least one, and maybe two quarters of growth above 3%. the kind of growth that would put...
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Dec 31, 2012
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that's a surprise to me because of all the uncertainty the fiscal cliff has wrought in the economy. here's an interesting comment from senator tim johnson, your colleague, a democrat. sometimes all the market takes is to make them see the light. that is via politico. if you don't get a deal and the markets are closed tomorrow, and you open to a couple of really big down days, is that all it takes to strike a deal? >> i hope not. hopefully congress has learned what failure to strike a deal can mean to the american economy. >> is that thought still fresh? >> it's fresh in our mind. i remember the deal we had to pass on t.a.r.p. to help our financial markets. i don't want to revisit that again. >> we've heard all kinds of stuff this morning. as you noi, senator, you probably hear this from your constituents, they're so disinterested in the process, they're so disinterested in the sausage being made. what they want to know if that there are like minded, good, smart people in that congress we're looking at right now who all have phones and blackberrys and actually work in the same buildi
that's a surprise to me because of all the uncertainty the fiscal cliff has wrought in the economy. here's an interesting comment from senator tim johnson, your colleague, a democrat. sometimes all the market takes is to make them see the light. that is via politico. if you don't get a deal and the markets are closed tomorrow, and you open to a couple of really big down days, is that all it takes to strike a deal? >> i hope not. hopefully congress has learned what failure to strike a deal...
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Dec 31, 2012
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cliff. the last hour of trading, last session of the year. one hour left to trade. president obama says this afternoon the progress is being made, but there is still plenty of work to be done but the stocks right now. very close to session highs, up 137 points. the nasdaq better by 58. the s&p 500 up one and a half points to low 20 points. not bad at all. the market started ticking off a little after noon when investors get worried that the president was going to speak at 130. in a tape that is pretty soon to begin, very few volumes speculated, it will to push the market higher. here you go. the dow had its intraday high of 30 minutes before the president spoke. right now of 131 points. the market moving mostly to the upside. the blue chips, hewlett-packard up above four 1/4%. $14.26 per share, but down about 45% for the year. economy names like caterpillar in the green, up three in the third. a similar story for ge up to one 1/4. so these are widely held stocks that could be in your portfol
cliff. the last hour of trading, last session of the year. one hour left to trade. president obama says this afternoon the progress is being made, but there is still plenty of work to be done but the stocks right now. very close to session highs, up 137 points. the nasdaq better by 58. the s&p 500 up one and a half points to low 20 points. not bad at all. the market started ticking off a little after noon when investors get worried that the president was going to speak at 130. in a tape...
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Dec 26, 2012
12/12
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the fact the higher the price of gas goes, particularly if the economy -- if we go off this fiscal cliff which means we could go into a recession, which means people are going to have to cut back on all kinds of things, one of those things would be their trip to wherever, driving their car, maybe they will take a bus instead, won't that bring down prices a little bit? >> it certainly will if we go over the fiscal cliff, that could send the country into recession. that's the whole fear here is that we do go over the cliff and then yes, gas prices are likely to move lower. they could move substantially lower. but there has been some talk on the front of the fiscal cliff. there's some sort of resolution that will likely be hammered out, and so i don't really foresee us going off the said cliff, but certainly gas prices may be lower in 2013, even if there's some sort of resolution, we may fall in a yearly average somewhere between 2011 and 2012 average, so it may be a bad year but shouldn't be as bad as what we saw this year. liz: patrick, it seems like every two or three years for the last
the fact the higher the price of gas goes, particularly if the economy -- if we go off this fiscal cliff which means we could go into a recession, which means people are going to have to cut back on all kinds of things, one of those things would be their trip to wherever, driving their car, maybe they will take a bus instead, won't that bring down prices a little bit? >> it certainly will if we go over the fiscal cliff, that could send the country into recession. that's the whole fear...
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Dec 27, 2012
12/12
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. >> the overall economy is doing quite well except we have the fiscal cliff issue. if you look at the employment situation that has stabilized and showing an improvement, you look at what is going on in the united states as far as manufacturing is concerned, housing prices have done well, housing sales of the unwelcome consumers, they still want to spend the being put off by this issue. lori: what sectors of i jump into? >> it will be extremely difficult but what you want to do is concentrate on things like financials, they will see a major rebound once we get some compromise. you will look at energy because we will look at consumer discretion and have exposure to the technology sector. lori: what is the mistake investors are making in the midst of this? >> getting wrapped up with this noise. a deal will come down but if you wait for the bottom to come, a market breaking apart, all hell breaking loose you will miss out because you'll be sitting on the sidelines. do some buying as the market pulls back and don't worry about catching a falling knife. tracy: don't figh
. >> the overall economy is doing quite well except we have the fiscal cliff issue. if you look at the employment situation that has stabilized and showing an improvement, you look at what is going on in the united states as far as manufacturing is concerned, housing prices have done well, housing sales of the unwelcome consumers, they still want to spend the being put off by this issue. lori: what sectors of i jump into? >> it will be extremely difficult but what you want to do is...
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Dec 30, 2012
12/12
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over the fiscal cliff. they say that reaching a deal will not be easy. >> we cannot afford a politically self-inflicted wound to the economy. the people that you sent to washington half to do with their jobs. >> mitch mcconnell was are riding on capitol hill just hours before meeting with obama. >> we are going to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> politicians on both sides have the responsibility but the president's tax hike will not do much to address the debt. >> the top 25 of american will not even pay one-third of the annual interest that is owed for this 16 trillion dollar debt. >> washington will return before the end of the year but they are likely to be burning the midnight oil. >>> we'll take a quick break on kron 4 news weekend. but first, let's take a live look outside at san francisco from our roof cam here on van ness avenue. let's take a quick look outside this morning at san francisco. outside this morning at san francisco. oh, you have a keurig vue
over the fiscal cliff. they say that reaching a deal will not be easy. >> we cannot afford a politically self-inflicted wound to the economy. the people that you sent to washington half to do with their jobs. >> mitch mcconnell was are riding on capitol hill just hours before meeting with obama. >> we are going to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> politicians on both sides have the responsibility but the president's tax hike...
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Dec 31, 2012
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fiscal cliff that the economy would go back into recession, unemployment would go from 7% to over 9%. that thousands of people would lose their jobs? >> no, wolf. i don't think there would be a permanent situation where we went over the fiscal cliff and nothing was done. my point is that if we went over the fiscal cliff and tax rates went up and spending cuts were substantial, that republicans would be under a huge pressure, even greater pressure than they are now to agree to a democratic initiative to cut middle class taxes and also restore the spending cuts that really do need to be restored. especially for the middle class and the poor. under the present circumstances, we to some extent have the worst of both worlds. the president loses the bargaining advantage of having that fiscal cliff and also having the public behind him. and has given in to republican demands of moving that threshold from $250,000 over $450,000. >> we've got to leave it there. grover norquist and robert reich, thanks to both of you. i know you'll be joining us later tonight as well. >>> we're following other
fiscal cliff that the economy would go back into recession, unemployment would go from 7% to over 9%. that thousands of people would lose their jobs? >> no, wolf. i don't think there would be a permanent situation where we went over the fiscal cliff and nothing was done. my point is that if we went over the fiscal cliff and tax rates went up and spending cuts were substantial, that republicans would be under a huge pressure, even greater pressure than they are now to agree to a democratic...
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Dec 31, 2012
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just hours from falling off the fiscal cliff if no deal is reached. right now a deal does not seem likely. even if they came out said, hey, news flash, it is here. not enough time to vote on it. will u.s. economy fall back into recession? either way what is the smart money doing? where are they investing? joining me now, billionaire investor wilbur ross. ceo and investor. >> you're welcome. >> will there be a deal of any kind and what does it really mean for the markets? >> what i'm worried about they make a deal but won't be a sensible deal. that it will kind of put some sort of a permanent cap as to the level at which the bush tax cuts are repealed, extend for some short period unemployment, extend a few other things and not really with the big issue. punt it over and mix it up with the debt ceiling talks which will be coming up sometime between now and around the end of february. liz: well, yeah. timothy geithner, treasury secretary, warning that we will hit the debt limit today. obviously that is a big issue. is that a bigger problem than the fisc
just hours from falling off the fiscal cliff if no deal is reached. right now a deal does not seem likely. even if they came out said, hey, news flash, it is here. not enough time to vote on it. will u.s. economy fall back into recession? either way what is the smart money doing? where are they investing? joining me now, billionaire investor wilbur ross. ceo and investor. >> you're welcome. >> will there be a deal of any kind and what does it really mean for the markets? >>...
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Dec 30, 2012
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in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can get health care for some of these folks in a way that would prevent the expenses from happening is a positive issue to be looking at as well. guest: if you are over 65 and can get medicare, there should not be any reason your health care or what the doctor can do for you will change with the new year. even if you are concerned about the doctor payments, that will be taken care of shortly. that is the one part of the fiscal cliff i am sure will be avoided before it affects medicare patients seeing doctors. guest: i am glad you said that. that may be one thing she was talking about. part of the fi
in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can...
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Dec 31, 2012
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any word of these fiscal cliff discussions, the market will move. housing, a bit of a bright spot in the economy, but if we fall off the cliff, that could end. if lawmakers can't reach a deal nearly every working american will face higher tax rates and we'll deal with both issues next. >> well, we're flat. down four points, all we've got. we're below 13,000 all waiting for any news on fiscal cliff developments. we'll keep you up-to-date. venezuela's president, hugo chavez is suffering new complications from a respiratory infection that just three weeks after undergoing surgery for cancer in cuba. chavez has not been seen or heard from since his fourth cancer related surgery which took place earlier this month. government officials say chavez might not return in time for the inauguration of his new six-year term on january the 10th. okay. check the price of oil, they're not related. the situation concerning hugo chavez is not related to the overall price of oil which this morning is at $90 a barrel, it's down 28 cents. now, one of the bright spots in
any word of these fiscal cliff discussions, the market will move. housing, a bit of a bright spot in the economy, but if we fall off the cliff, that could end. if lawmakers can't reach a deal nearly every working american will face higher tax rates and we'll deal with both issues next. >> well, we're flat. down four points, all we've got. we're below 13,000 all waiting for any news on fiscal cliff developments. we'll keep you up-to-date. venezuela's president, hugo chavez is suffering new...
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Dec 27, 2012
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economy held hostage. >> if congress allows the economy to fall off the fiscal cliff, the budget for the u.s. air force will be cut by $4 billion. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vis
economy held hostage. >> if congress allows the economy to fall off the fiscal cliff, the budget for the u.s. air force will be cut by $4 billion. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have...
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Dec 31, 2012
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touch is what yahoo! needed. >> mother nature. an intense drought in the midwest that scorched the corn and soy crop, sending prices sky high. >> who can forget super storm sandy? neighborhoods along the northeast swept away, millions without power and damages as high as 50 billion dollars raising lots of questions a
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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Jan 1, 2013
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does he see the fiscal cliff afwremt getting through the house? and we leave you with london's new year's celebration. there it is. you're watching starting point. happy new year. [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these stop taking chantix and see your doctor right away as some can be life-threatening. if you have
does he see the fiscal cliff afwremt getting through the house? and we leave you with london's new year's celebration. there it is. you're watching starting point. happy new year. [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ]...
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Dec 27, 2012
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. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcoti
. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes....
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Dec 27, 2012
12/12
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the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest: we have to recognize that negotiating away from what has been a striking departure from just protecting the mortgage interest deduction, property ownership. any breach to that invites further breaches. our members, even though they recognize the deck is a need to be resolved, any breach will lead to further coming back, loring the income limit. -- lowering the income limit. we have to recognize many of the second homes are in places like michigan, wisconsin, arkansas, where people are looking for a weekend fishing lodge. very not the hamptons or expensive homes in beverly hills. many homes are scat
the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest:...
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Dec 27, 2012
12/12
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CSPAN
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if he gets the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will be the one who will have to pay, and i believe they are being bought off by the 2%. right is right, wrong is wrong, and to take away from the needy and cut food stamps from people who qualify -- it takes an act of congress to qualify. i cannot understand that these people are protecting the 2% of the country. host: jefferson city, missouri, you are on. go ahead. caller: yeah, i think boehner should be removed from the speaker of the house, and president obama should be in and his entire staff, including hillary clinton. i do not know if you have noticed but nancy pelosi, her eyes are consistently d
if he gets the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will...
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Dec 28, 2012
12/12
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CNBC
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economy. >> most lawmakers are now trying to avoid the fiscal cliff. 14i7ers meanwhile are trying to vied a strike at more than a dozen ports. we're talking about 14,000 longshoremen would walk off their job when the contract expires on december 0th. sunday, i think, isn't it? the biggest issue is on container royalties which are paid to union workers. they get part of it based on the weight of the cargo. a strike could hurt exports, factories, also it would affect retailers who are awaiting shipments of spring merchandise. now it's important. we're going to go to today's national weather forecast. last year, reynolds, you would come on, you would try and make it interesting. but it wasn't. this year, it's every day we need to, you know, dvr you because there's a lot going on. >> oh, that's certainly the case. it's been really like an assembly line. one storm system after another rolling across the continent that has been affecting millions of americans. what we're seeing is that last storm that we call euclid now leaving the u.s. and bringing residual snow showers behind the east. r
economy. >> most lawmakers are now trying to avoid the fiscal cliff. 14i7ers meanwhile are trying to vied a strike at more than a dozen ports. we're talking about 14,000 longshoremen would walk off their job when the contract expires on december 0th. sunday, i think, isn't it? the biggest issue is on container royalties which are paid to union workers. they get part of it based on the weight of the cargo. a strike could hurt exports, factories, also it would affect retailers who are...
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Dec 30, 2012
12/12
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of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an hour to discuss possible solutions to the fiscal cliff. the house will come in at 2:00 p.m. eastern. they have 14 suspension bills on the agenda this afternoon. we expect them to come in at 2:00. vote's expected 6:30 eastern. we will have live coverage on c- span. representative ron paul, former republican candidate, wraps up 24 years in the u.s. house. the baltic and look next at his farewell speech -- we will take alook nexxt at his farewell speech. >> my goals in 1976 were the same as they are today, promote peace
of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an...
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151
Dec 26, 2012
12/12
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CNBC
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we've had all the talk about the fiscal cliff. and we've been saying from the beginning that this was a cautious and conservative consumer, and that it wouldn't take much to sort of knock us off a nice progression. consumers have been carrying this economy for almost two years of year-over-year, month-over-month growth. i think the competitive conversation about the fiscal cliff, while many consumer can't articulate each individual item and element of the cliff, they know there's something not good going on with the economy right now. and if it's op the front line of every newspaper and it's the headline and lead story of every television show, that starts to seep into consumer psyche. that i think will play a role. >> mr. shay, that said, and you've said it, do you think that your 4% estimate for year-on-year growth was perhaps overly optimistic in view of what is unfolding on capitol hill, and evident on every front page this morning? >> simon, i don't think so. we're not ready to go there yet. mastercard's assessment of .7 this
we've had all the talk about the fiscal cliff. and we've been saying from the beginning that this was a cautious and conservative consumer, and that it wouldn't take much to sort of knock us off a nice progression. consumers have been carrying this economy for almost two years of year-over-year, month-over-month growth. i think the competitive conversation about the fiscal cliff, while many consumer can't articulate each individual item and element of the cliff, they know there's something not...
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Dec 31, 2012
12/12
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KRON
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the fiscal cliff has the taxing which as a medium impact on the economy but also the spending part which has a longer-term impact. it is a hundred million dollars in domestic and defense spending. that is the one where all the sudden late yesterday they realized maybe we should deal with that too. the reason why is that all of the economic forecasts show that eight the sequestered goes and even for the month and two months into the debt ceiling is negotiated the economic growth that we have experienced about 3% of the last quarter will be what have to about one. >> congress is really just getting what they kind of asked for. you will not be able to deal or come with it arrangement to cut spending and raise taxes, we will do it for you automatically. here the we are and they have not come up with anything. is there any hope of the deal getting done in the next week or two? >> i believe the deal will be done later today. the senate will pick it up in the house will vote on it tomorrow. the wild card is what is the house going to do? they ping-pong back and forth with the senate. this could
the fiscal cliff has the taxing which as a medium impact on the economy but also the spending part which has a longer-term impact. it is a hundred million dollars in domestic and defense spending. that is the one where all the sudden late yesterday they realized maybe we should deal with that too. the reason why is that all of the economic forecasts show that eight the sequestered goes and even for the month and two months into the debt ceiling is negotiated the economic growth that we have...
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Dec 24, 2012
12/12
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CNNW
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regardless of the fiscal cliff. >> to be fair, i'm told there are a number of republicans, especially in the house, who want to go over the cliff for the reason i explained, that they'd much rather vote for a tax cut than a tax increase because they don't want to break your pledge. grover, thank you very much. appreciate it. >> no one should break their pledge. >> merry christmas. thank you, grover. >> merry christmas to you. >> ahead on "starting point," who would do this right before christmas? real grinches break into one family's home, turning over their tree, stealing their electronics. what are they going to do about it? we'll talk to them live next. i . because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/price
regardless of the fiscal cliff. >> to be fair, i'm told there are a number of republicans, especially in the house, who want to go over the cliff for the reason i explained, that they'd much rather vote for a tax cut than a tax increase because they don't want to break your pledge. grover, thank you very much. appreciate it. >> no one should break their pledge. >> merry christmas. thank you, grover. >> merry christmas to you. >> ahead on "starting point,"...
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90
Dec 27, 2012
12/12
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CSPAN
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eye 90
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host: you have been quoted as saying -- with the fiscal cliff we will see 1 million job losses. guest: that is the assessment we have been getting from the running of our models. the economy should be expanding to% or 3% next year without the -- should be expanding 2% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest: we have to recognize that negotiating away from what has been a striking departure from just protecting the mortgage interest deduction, property ownership. any breach to that invites further breaches. our members, even though they recognize the deck is a need to be resolved, in -- that the deficit needs to be resolved, any breach will lead to further coming bac
host: you have been quoted as saying -- with the fiscal cliff we will see 1 million job losses. guest: that is the assessment we have been getting from the running of our models. the economy should be expanding to% or 3% next year without the -- should be expanding 2% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion....
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607
Dec 31, 2012
12/12
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KGO
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as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on t
as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage,...